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Nov 28, 2012
11/12
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FBC
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nevermind the deficit, you'll never come close to tackling the debt if there's not leadership fromhe white house on this issue. >> reporter: steven, you covered the issues, and you have for a very lon time with distinction. at some point, it seems we're on a carosel of complaints and empirical evidence that does not change and the argument does not change. that is, we have a trillion dollar problem in terms of the deficit, a $16 trillion problem in terms of the debt, and we've got two parties that for all the world are acting as though we think we got 300 million americans in the country too dumb to understand what they've got to do. the only people who don't seem to get it are the republicans and the democrats in the nation's capital. >> yeah, i mean, look, there's a lot of truth to that. republicans deserve credit in raising issues after the elections of 2010, as pa of the process, the negotiations about the debt ceiling, but the irony we're facing right now as we sit here and we see the president refuse to talk seriously about entitlements, refuse to really actually engauge in any
nevermind the deficit, you'll never come close to tackling the debt if there's not leadership fromhe white house on this issue. >> reporter: steven, you covered the issues, and you have for a very lon time with distinction. at some point, it seems we're on a carosel of complaints and empirical evidence that does not change and the argument does not change. that is, we have a trillion dollar problem in terms of the deficit, a $16 trillion problem in terms of the debt, and we've got two...
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Nov 26, 2012
11/12
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FBC
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. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't need to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849 billion, includes $206 billion, of higher taxes on dividends. $123 billion, on limiting itemized deductions. $36 billion, higher taxes on capital gains. and, next, the white house want to raise another $584 billion, over ten years... $584 billion, of that, over ten years by reducing the value of certain tax breaks, cutting tax breaks related to charitable contributions and, by the way it may have an impact on the housing industry and that should get everybody a little excited. we have something good going here as the saying goes now, in the housing industry and let's quash that. the rest of the
. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't need to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849...
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Nov 24, 2012
11/12
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FBC
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he forecasted a $1.3 trillion deficit. th so that means, if i can figure this out, $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion left for next year. our national deficit iss big pl $16 trillion. everybody knows that. the president's bignt plans, he just wants $1.6 trillion in new taxes.t here is how he wants to get there. first he wants to raise 849 billion. by allowing the bush tax cuts -y there they go. taking him away.f the very first of december of this year. incom incomes of more than $250,000, 849 billion includes 206 billion in higher taxes on dividends. $123 billion on limiting i'm itemized deductions.pital higher taxes on capital gains. then they want to raise another$ $534 billion over 10 years.ten b excuse me,y over two years, by using tax rates.e mortgage payments and -- oh, by the way, that might have ane evr impact on the housing industryby and that could get everybody excited. we have something good going, so mones squash that. the rest would come from raising taxes on commodity traders,
he forecasted a $1.3 trillion deficit. th so that means, if i can figure this out, $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion left for next year. our national deficit iss big pl $16 trillion. everybody knows that. the president's bignt plans, he just wants $1.6 trillion in new taxes.t here is how he wants to get there. first he wants to raise 849 billion. by allowing the bush tax cuts -y there they go. taking him away.f the very first of december of this year. incom...
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Nov 28, 2012
11/12
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FBC
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he started his first term by pledging to make entitlement reforms the center of the deficit reduction pla he's done nothing about it in nearly four years. lou: yeah. let me turn to the issue of the possibility of a republican reset, if i may, very quickly. the party, some say outright in disarray in defeat of the candidate, president obama's hands, and there's great hand wringing, gnashing of teeth, and wailing on the part of the republican party. the leadership seems to reside with speaker boehner and rinse -- reince, chairman of the rnc, who led the party to another defeat, second in the row, over the course of the past two cycles. at what point do republicans acknowledge there's a problem, we have to do things differently, find out what the message is, and find someone willing to listen to the message that will grow the party. >> well, i think, look, i think we've haddtremendous successes. in 2010, we took back the house, grew the majority in the house, took seats in the senate, a lot of seats in governorship, governor walker, scott, and so the party had a tremendous amount of succ
he started his first term by pledging to make entitlement reforms the center of the deficit reduction pla he's done nothing about it in nearly four years. lou: yeah. let me turn to the issue of the possibility of a republican reset, if i may, very quickly. the party, some say outright in disarray in defeat of the candidate, president obama's hands, and there's great hand wringing, gnashing of teeth, and wailing on the part of the republican party. the leadership seems to reside with speaker...
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Nov 27, 2012
11/12
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CNBC
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taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of the american people, whether you're talking about deductions or loop hole, however you do it. less money should not -- should be taken from the american people, not more, and christiana roma said raising taxes is contractionary, lowering taxes section pangsry. one more time why do it at all? >> exaccuse me, larry. >> two things. there's a political reason and there's a policy reason. the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternati
taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of...
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Nov 27, 2012
11/12
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deficit reduction. that's probably a little too much out of revenues over the short term. so let's go back to child tax credit and some middle income tax relief and that, but let's keep a substantial portion of that revenue and we don't have to the talking about stupid across the board cuts and do more targeted cutses in programs that need cutting and bolster those that need bolstering. one thing it, no one's talking about within-third of the deficit is due to high unemployment. we should be talking about investment that will put americans back to work and that takes care of a third of the deficit. if you're talking about a grand bargain, okay, revenues putting people back to work and then we'll talking about cuts. >> that's a profound point. all of a sudden we're supposed to go into this grand bargain of medicare and medicaid because we went through recession and the tax base was low because there was a lot of people unemployed for months on end and we had to invest in the economy to where we've got it
deficit reduction. that's probably a little too much out of revenues over the short term. so let's go back to child tax credit and some middle income tax relief and that, but let's keep a substantial portion of that revenue and we don't have to the talking about stupid across the board cuts and do more targeted cutses in programs that need cutting and bolster those that need bolstering. one thing it, no one's talking about within-third of the deficit is due to high unemployment. we should be...
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Nov 22, 2012
11/12
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MSNBCW
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this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us back into recession. when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this chart. the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the chart. the point of the shrinking on the whole chart back to 1950. when somebody stops inevitably matering about the fiscal cliff and the sky rocketing deficit, they don't know what they're talking about and they probably don't know it is wro
this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us...
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Nov 29, 2012
11/12
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CSPAN2
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without adding a dime to the deficit, by the way. in fact, if done right, tax reform will increase revenues by spurring growth, job creation and therefore bigger tax receipts. tax reform is both a fiscal and competitive necessity for our country. it has been more than 25 years since we substantially reformed the tax code. twice as long, about 50 years since we did a bottom-up review of our international tax laws. the world has changed a lot in that time period and yet america has not kept up. the underlying assumptions in our tax code are frankly out of step with the complexities of today's global economy. this is especially evident in our corporate tax code. on the domestic side of our corporate tax code, the u.s. has become the highest tax rate country among all the developed countries in the world. so canada just lowered their rate from 16.5% to 15%. our rate is 39.2% when you combine the state and federal burden. federal burden 35%. state burden closer to 5%, 6%. so right now, the average among all the developed countries in the
without adding a dime to the deficit, by the way. in fact, if done right, tax reform will increase revenues by spurring growth, job creation and therefore bigger tax receipts. tax reform is both a fiscal and competitive necessity for our country. it has been more than 25 years since we substantially reformed the tax code. twice as long, about 50 years since we did a bottom-up review of our international tax laws. the world has changed a lot in that time period and yet america has not kept up....
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Nov 28, 2012
11/12
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CURRENT
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that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of the world acknowledge there was some disparities, the ratio of ceo to comp that was crazy and they said we're going to pare that back. >> the compensation is out of whack. we got bailed out. we haven't been criminally prosecuted. the stock market has doubled. stock market has doubled under the obama administration. who we don't like. who we fought valiantly to try to defeat. they would have a lot more credibility if they said that. again, i made the argument that you know whatever it is, the business of the american people, you know used to be general motors. it
that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of...
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Nov 21, 2012
11/12
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KCSMMHZ
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the deficit came in at $6.7 billion. exports fell by 6.5% from a year earlier. exports have fallen five months in a row. cars and steel led the drop and imports fell by 1.6% from a year earlier. exports to europe tumbled more than 20%. the debt crisis has dampened demand. exports to china fell more than 11%. consumers upset about the material -- territorial dispute are shying away from japanese goods. >>> serieses say the settlement body upheld most of the -- wto officials sent a final report to the parties involved. the document advises ontario to rer rectify the issue. the wto says the -- canadian officials may appeal the decision. >>> tokyo stock exchange officials are calling on small businesses in south korea to list their shares on the tokyo boards. the tse made the promotion in a seminar in seoul on wednesday. the event was held by an organization that helps enterprises to raise funds and enter foreign markets. more than 200 south korean companies including those from the information technology sector took part. officials from the tse said investors in to
the deficit came in at $6.7 billion. exports fell by 6.5% from a year earlier. exports have fallen five months in a row. cars and steel led the drop and imports fell by 1.6% from a year earlier. exports to europe tumbled more than 20%. the debt crisis has dampened demand. exports to china fell more than 11%. consumers upset about the material -- territorial dispute are shying away from japanese goods. >>> serieses say the settlement body upheld most of the -- wto officials sent a final...
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Nov 22, 2012
11/12
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MSNBCW
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this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us back into recession. when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this
this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us...
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we in fact want to reduce the deficit if we want to get it down to where we have a surplus the real issue is how fast do we want to do that and the answer is not very fast got seven kids i don't want to see unemployment rate should have been more among the twenty and thirty somethings it's difficult enough yeah i mean we just have to go slow and steady we can't do it all at once we can't not do it we're going to have to eat our broccoli we're going to have to eat our vegetables but you know let's do it not trying to wolf it down not trying to you know push into this. or feed it to the dog we have to slowly and surely work our way. way back to fiscal sanity all right so there's has taken them bloomberg economists richie and ron had a really interesting anecdote about what he hears from small business owners all over the country because he speaks to chambers of commerce and rotary clubs all over take a listen to what they tell him. out of a five hundred audience it's fifty people coming up and saying hey you were spot on because i might have a negative first. of the economy but they're comi
we in fact want to reduce the deficit if we want to get it down to where we have a surplus the real issue is how fast do we want to do that and the answer is not very fast got seven kids i don't want to see unemployment rate should have been more among the twenty and thirty somethings it's difficult enough yeah i mean we just have to go slow and steady we can't do it all at once we can't not do it we're going to have to eat our broccoli we're going to have to eat our vegetables but you know...
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Nov 29, 2012
11/12
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CSPAN2
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[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after world war ii. outside of the post-world war ii era, the on than the up deficit has fallen faster is when the economy we left in 1937, during the great depression into -- [inaudible] u.s. district offers, testing the speed limit of the fiscal consolidation does and backfire. >> i really go back to simpson-bowles. i think they had it right put. repeat, everything on the table. not only taxes, but spending cuts and entitlement reform. let me speak about each of them. first when it comes to revenue, so many people in the business community and outside have talked about simpson-bowl
[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after...
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Nov 25, 2012
11/12
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CSPAN
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this agreement cuts the deficit by $1 trillion. we look forward to the work on the committee to make sure that the millionaires and billionaires and people with those yachts will have tax benefits, but that is in the mix of thinking what is going on. mr. schumer will talk about this in a moment with the jobs agenda that we have. we will make sure that america pays their bills, and make certain that all americans -- make sure that all americans pay theirs. >> we have averted a crisis in america has avoided defaulting on the national debt. the fears and concerns of americans across the board were considered by this congress, and as a result we have come together on a bipartisan basis. the down payment on the deficit included on this bill comes primarily from working families and those that were struggling in america. we will bring everyone together for shared sacrifice. we have a particular responsibility there. with $1.50 trillion, to make sure that when we do this, we do this in a fair and just manner for all of the people in ameri
this agreement cuts the deficit by $1 trillion. we look forward to the work on the committee to make sure that the millionaires and billionaires and people with those yachts will have tax benefits, but that is in the mix of thinking what is going on. mr. schumer will talk about this in a moment with the jobs agenda that we have. we will make sure that america pays their bills, and make certain that all americans -- make sure that all americans pay theirs. >> we have averted a crisis in...
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Nov 27, 2012
11/12
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CSPAN
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not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do that. they failed to end the medicare guaranteed. they failed to slash medicaid, education. in this measure, we succeeded in protecting medicare and social security beneficiaries. we succeeded in protecting seniors in nursing homes, individuals with disabilities, and poor kids who depend on medicaid for their health care. we succeeded in providing room for critical investments in education and america's future. do not get the wrong, mr. speaker. there is much in this plan i do not like. we did not succeed in shutting down s
not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do...
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Nov 28, 2012
11/12
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that's thanks to an oil and gas boon that's wiped out its budget deficit and brought unemployment to the lowest in the nation. >>> all right, coming up, a basketball roundup, and remembering the man who transformed baseball. >>> plus, new york city's iconic empire state building shows off its new high tech lighting. you're watching "early today." >>> here's a look at some of the other stories making news early today in america. a tragedy in new york last night as a commuter bus plowed into a long island home and killed a 6-year-old little boy that was inside. police say the bus had just swerved to avoid a pedestrian and then just lost control. at least 11 bus passengers and the boy's 7-year-old brother were treated for minor injuries. just horrible. >>> the empire state building added flare to the new york city skyline. alicia keys flipped the switch on the inaugural light shows which were synchronized to her songs. the new lighting system displays over 16 million colors with various effects. >>> and, finally, one texas man is using his noggin for a novel idea. hey. the 27-year-old h
that's thanks to an oil and gas boon that's wiped out its budget deficit and brought unemployment to the lowest in the nation. >>> all right, coming up, a basketball roundup, and remembering the man who transformed baseball. >>> plus, new york city's iconic empire state building shows off its new high tech lighting. you're watching "early today." >>> here's a look at some of the other stories making news early today in america. a tragedy in new york last...
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the financial times ranks each country with the same criteria applied to ministers including budget deficit government debt and employment rights over it saudi arabia top the ranking one of the lowest levels of state accounting for seven point five percent of g.d.p. followed by russia with public debt at about nine point six percent of the nation's g.d.p. while the economy has grown four percent with an unemployment rate just above five percent and took place with official state debt levels at about twenty percent of g.d.p. take the bell for morgan stanley believes russia is in a good position when compared to the developed world. around the world in the developed markets you have budget deficits of five to ten percent in most countries and you have debt to g.d.p. ratio at seventy eighty ninety percent of g.d.p. and even higher in russia you have. under ten and the government has about twenty five percent of g.d.p. so from the oil from. creditor to the rest of the world and it's running a surplus at the moment so russia looks in a much better position from a budget point of view nearly ever
the financial times ranks each country with the same criteria applied to ministers including budget deficit government debt and employment rights over it saudi arabia top the ranking one of the lowest levels of state accounting for seven point five percent of g.d.p. followed by russia with public debt at about nine point six percent of the nation's g.d.p. while the economy has grown four percent with an unemployment rate just above five percent and took place with official state debt levels at...
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Nov 21, 2012
11/12
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CSPAN
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congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs, chairman of the joint chiefs, we have got to sit down and develop a strategy for the future that will provide the defense force for the 21st century, not just now but in the future, and then we will build our budget around that strategy, so one, we know we are going to be smaller. that is the reality of having at of these wars, but we have to be agile. we have to be flexible, and we have to be on the cutting edge of technology. we are going to have to have force projection in the areas with the biggest problems in the pacific and the middle east. we have to have a presence elsewhere in the
congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs,...
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Nov 29, 2012
11/12
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CSPAN
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deficits that are unsustainable. i hope at the end of this year that -- congress will extend the middle class for 98% of americans, but let the tax cuts on that 2% expire. host: william mcbride, is the payroll tax cut a side issue? guest: it was front and center a year ago. it was debated in stages. we had a two month extension last year at this time. we had a protracted debate that picked up again in february and was extended again for the rest of the year. that was an major push by the president. it is a major deal. it is more than $100 billion a year, the estimate is $125 billion a year. that is more than 10% of the deficit. these are big numbers. it is an unprecedented policy, to start it two years ago and prior to that time -- the first time it was passed it was for one year. it was debated again last year. we did not play around politically with the payroll tax to much. nothing like we did with the income tax. it is rather unprecedented, cuts in to a program that was posted a dedicated to social security -- sup
deficits that are unsustainable. i hope at the end of this year that -- congress will extend the middle class for 98% of americans, but let the tax cuts on that 2% expire. host: william mcbride, is the payroll tax cut a side issue? guest: it was front and center a year ago. it was debated in stages. we had a two month extension last year at this time. we had a protracted debate that picked up again in february and was extended again for the rest of the year. that was an major push by the...
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Nov 23, 2012
11/12
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KPIX
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defending champion, a 14-0 deficit. 21-14 late in the game, but lincoln comes back to score the two-point conversion by tyree. 22-21! >> we worked hard from the beginning. all we did, all the fighting, we were torn. and it's great to happen! >> i'm very proud of this team. we've been through ups and downs, injuries all year. i love my team! >> last week, we said, hey, we're gonna eat some turkey. we're gonna be champions. >> who would have won? we would have never did it! >> right. all right. nfl, 49er business. quarterback alex smith practiced today. he reportedly has been medically cleared to play, but the team is denying it. so is it colin kaepernick at center in new orleans? jim harbaugh speaks tomorrow afternoon at niner headquarters. >>> hey, did you hear? it's thanksgiving! right place, right time, in the woodside high school. runs it back for a touchdown. he scored six in the last two games. 49-19. they get the best of the jets. >>> college basketball, cal up. richard solomon. no foul called. he gets teed up. moments later, mike montgomery gets up. bears trailed by as much as eigh
defending champion, a 14-0 deficit. 21-14 late in the game, but lincoln comes back to score the two-point conversion by tyree. 22-21! >> we worked hard from the beginning. all we did, all the fighting, we were torn. and it's great to happen! >> i'm very proud of this team. we've been through ups and downs, injuries all year. i love my team! >> last week, we said, hey, we're gonna eat some turkey. we're gonna be champions. >> who would have won? we would have never did...
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in confidence confidence built a money would start flowing back into the country and cancel out the deficit in the first half. so was this some improvement most will seventy billion it looks like it's going to be this year so last year was eighty five billion and i suppose you could say that was is an improvement but the previous two years were still that in total it's been about two hundred fifty billion dollars in the last four years that has left the country that would otherwise have been put to work here and that is a problem what is the problem that exactly what why is all this money leaving russia well in a word confidence. who's the deputy finance minister said earlier this week that trust in russia is really quite low they are trying to fix that the government is bringing in new policies to combat corruption to improve the rule of law and to improve transparency but as we know these things always take time nick russian savers what are they doing. it is not just international investors that are concerned about what's going on here is also the russian of us is added to that is that th
in confidence confidence built a money would start flowing back into the country and cancel out the deficit in the first half. so was this some improvement most will seventy billion it looks like it's going to be this year so last year was eighty five billion and i suppose you could say that was is an improvement but the previous two years were still that in total it's been about two hundred fifty billion dollars in the last four years that has left the country that would otherwise have been...
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Nov 26, 2012
11/12
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FOXNEWSW
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>>> a balanced approach to deficit reduction is the right approach. i would say that the president made clear he will not sign a bill that extends the bush era tax cuts for those making more than 250,000 dollars. >> it's time for the president to present a fan that rises above the reckless and the radical voices on the hard left that goes beyond the talking points of the campaign rail. that has a realistic chance of passing the congress. the time for campaigning is over. time for the president to lead. >> bret: some of the back-and-forth on the fiscal cliff and negotiations that are upcoming. if the white house gets its way. all tax cuts on high income earners are let go, expiring, the bush era tax cuts, this is what you are looking at. according to the treasury department it costs the federal government 9.69 billion a day to run the government. the expiration would be $8.24 billion a year on the top earners. roughly $82.4 billion a year. $824 billion in ten years. that would per year run the federal government for 8.5 days a year. that is if the tax
>>> a balanced approach to deficit reduction is the right approach. i would say that the president made clear he will not sign a bill that extends the bush era tax cuts for those making more than 250,000 dollars. >> it's time for the president to present a fan that rises above the reckless and the radical voices on the hard left that goes beyond the talking points of the campaign rail. that has a realistic chance of passing the congress. the time for campaigning is over. time for...
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martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we sa
martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and...
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Nov 28, 2012
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social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a plan to buy 75 years of salt with the rigid of solvency. -- of solvency foug. i might add a wrinkle here. years, a similar commission ought to be creat ed. not get into this mess where we have six months to go with social security. you know how important it is for people. people are devastated by the recession and their pension plans lost. it is important to us, our kids come and grandchildren. i think we should create a commission that will report back to congress before a vote by the end of the next calendar year. i want to talk about the two toughes
social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a...
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turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more than money. but some regions are see europe's financial troubles as a reason to take a step away from the indebted countries spanish cut the lawn yet set to vote for its local government with separate as parties are to take the lead that's ahead for you after the shop break. which is slow often enough and knows that to ride a horse you've got to catch it first. for him it's a daily routine that you're soft as a force breeder on the island of a horn at the heart of. his life on an isolated farm is about blue sky green grass and his horses work there sometimes it gets lonely here but horses have become part of me now i've fallen off so many times sometimes they'd bite as well it's part of my everyday life. i holmes been home to a new brat locally just laugh for
turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more than money. but some regions are see europe's financial troubles as a reason to take a step away from the indebted countries spanish cut the lawn yet set to...
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turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money as europe is struggling to find a common path separatist feelings are growing in some regions and they certainly seem to be dominating the local elections in catalonia or over half of the residents say that they want to make an independent state this with economic turmoil exasperating desires for sovereignty artie's andrew farmer is in barcelona for us well the polls have opened today in an election which could represent a step towards any final break up of spain and it is because the cattle i am president are the masses promised to hold a referendum on independence from spain it is convergence union party actually wins and that is something that is striking a chord with many cattle lands the region itself he was pretty wealthy it has an. the size of po
turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money as europe is struggling to find a common path separatist feelings are growing in some regions and they certainly seem to be dominating the local...
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turned i think the atmosphere in europe would be a lot better what course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money and while europe struggles to find a common way forward some regions are looking for ways to go it alone in spanish catalonia people are set to go to the polls to elect a regional government which could see a referendum on its independence party as andrew farmer. there's a wind of separatism blowing through europe at the moment and it's reached the northeastern shores of spain catalonia is the latest region to officially our spare independence is something people here have long felt in their hearts but now they're feeling it in their pockets. i think it's a good idea to be in the band them from. a country. which is. really really bad situation it's a bargain for. it's a bargain for the cool good to prague castle i'm flags can be seen hanging from balcon
turned i think the atmosphere in europe would be a lot better what course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money and while europe struggles to find a common way forward some regions are looking for ways to go it alone in spanish catalonia people are set to go to...
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Nov 26, 2012
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especially in gop support for a deficit deal. as negotiations continue over the fiscal cliff, we go back to august 2011. reviewing some of the debate and news conferences, the budget control act created those cuts set to take effect in january. that begins tonight at 8:00 eastern here on c-span. >> you listen to maitre bloomberg who said that the damage was unprecedented. that it may be the worst storm the city has ever faced. governor christie said the damage in new jersey was unthinkable. we had a fires. we had hurricane-force winds. we had massive of flooding. we had feet of snow. you look at that, the flooding of the subway systems, the shutdown of the stock exchange, you start to get a sense of the massive scale and scope of this storm. and yet, the networks performed. carry dozens of stories about how many consumers only wink to information was through their smartphones. linking social media and their smartphone. while there was obviously an impact, i think the networks performed really well. >> some networks did well, some
especially in gop support for a deficit deal. as negotiations continue over the fiscal cliff, we go back to august 2011. reviewing some of the debate and news conferences, the budget control act created those cuts set to take effect in january. that begins tonight at 8:00 eastern here on c-span. >> you listen to maitre bloomberg who said that the damage was unprecedented. that it may be the worst storm the city has ever faced. governor christie said the damage in new jersey was...
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Nov 26, 2012
11/12
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congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs, chairman of the joint chiefs, we have got to sit down and develop a strategy for the future that will provide the defense force for the 21st century, not just now but in the future, and then we will build our budget around that strategy, so one, we know we are going to be smaller. that is the reality of having at of these wars, but we have to be agile. we have to be flexible, and we have to be on the cutting edge of technology. we are going to have to have force projection in the areas with the biggest problems in the pacific and the middle east. we have to have a presence elsewhere in the
congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs,...
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Nov 26, 2012
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the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first because i know it is a real strategic dilemma for nations that are engaged primarily economically with china, because there always has to be a human rights imperative. it is either the elephant in the room or is the challenge to getting into the agreements you want to be in. that the said, there are 400 or 500 million chinese living on the same per capita income as nigeria with $2 a day. that is always a real concern for the chinese and a one-party state where the military and internal security forces are also party entities. a real challenge. i want to touch on the question about o
the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first...
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a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can only do it with the help of the american people. so tweet -- what was that again? my2k or e-mail, post it on a member of congress' facebook wall. do what it takes to communicate a sense of urgency. we don't have a lot of time. we have a few weeks to get this done. we could get it done tomorrow. now, optimistically i don't think we're going to get it done tomorrow. but i tell you, if everybody here goes out of their way to make their voices heard and spread the word to your friends and family and co-workers and neighbs, i am confident that we will get it done and we will put america on t
a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can...
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Nov 29, 2012
11/12
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if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. >> let your member of congress know. send that message said the president. the american people did. so many american people did that congressional websites and phone lines crashed after the president's speech. house phone circuits were so overwhelmed that an alert went out to members of congress that if they were expecting any really important phone calls therks shou they should try using a different phone. if you tried to visit the websites for john boehner or michele bachmann after the president's call to action, you just got a server to busy message. >>> last year, in the fall, the president went and did it again. the president went on a multi-state barn storming campaign style tour to push for the passage of his jobs bill. again, he asked the american people to get involved in that fight directly. he asked the american people to talk to congress. >>> i want you to call. i want you to e-mail. i want you
if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. >> let your member of congress know. send that message said the president. the american people did. so many american people did that congressional websites and phone lines crashed after the president's speech. house phone circuits were so overwhelmed that an alert went out to members of congress that if they were...
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Nov 21, 2012
11/12
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however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government can only be sustained by a responsible fiscal plans and actions. a credible framework to set a better fiscal policy, one in which the ratio of federal debt to gdp eventually stabilizes or declines, is urgently needed to maintain stability. even as policy-makers address the urgent issue of longer run out stability, they should not ignore a second key objective, to avoid unnecessarily adding to the head winds that are already holding back the economic recovery. fortunately, these objectives are compatible and mutually reinforcing. preventing a sudden and severe contraction in fiscal policy early
however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government...
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Nov 29, 2012
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gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is not interested in personally meeting with congressional republicans because those meetings did little to resolve the 2010 debt ceiling crisis. but when mr. obama later skipped congressional meetings and campaigned to extend the 2% payroll tax cut and maintain lower student loan interest rates, he won. the president is primarily focused on step one of this process-- winning the middle class tax cut debate. step two is being led by his treasury secretary jim geithner and liaison rob nabors. they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two
gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is not interested in personally meeting with congressional republicans because those meetings did little to resolve the 2010 debt ceiling crisis. but when mr. obama later skipped congressional meetings and campaigned to extend the 2% payroll tax cut and maintain lower...
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Nov 21, 2012
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he was an influential member on a balanced budget and deficit issues. he did not run for reelection in 1992. several years later while speaking about his public service, he said he had no regrets about not seeking another term. >> the question is does my retiring reflect a feeling of pessimism. not necessarily, but i have served this country and a variety of ways. 4677 years, when i met my deputy. private practice, i ran for the senate. i know 25 years of my life was in public service. although i know i look 45, i am a little bit older. i decided there were some other things i wanted to do. i wanted to write. i wanted to do something as a private citizen. if there had been a two-year commitment, i would have done it. not after another six years, and i have never regretted it, and never looked back. do not misunderstand me. if you read my book, you will get it. i love my service. it meant a lot to me. it was hard to walk away from. there were other things i wanted to do. the easy thing would have been to run for reelection. >> in a few moments, defense s
he was an influential member on a balanced budget and deficit issues. he did not run for reelection in 1992. several years later while speaking about his public service, he said he had no regrets about not seeking another term. >> the question is does my retiring reflect a feeling of pessimism. not necessarily, but i have served this country and a variety of ways. 4677 years, when i met my deputy. private practice, i ran for the senate. i know 25 years of my life was in public service....
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. >> let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today. >> martha, thank you. martha: a lot of talk this morning after these sunday shows and watching both sides talk about this fiscal cliff about who seems to be moving and in what direction. what are you hearing, what are you hearing from lindsey graham who says, quote he is willing to break that pledge on taxes under certain circumstances? what are they really saying? >> i'm not sure what they're saying. there's a lot of this talk going on. i don't know who is speaking for the republican party. the house of representatives where you have a substantial republican majority but the
. >> let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today....
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social security, set aside, doesn't add to the deficit. when it comes to medicare and medicaid, protect the integrity of the program, but give it solvency for more and more years. >> reporter: a source with engine of knowledge -- with knowledge of the negotiation says there is no date set in stone for the next meeting among the principle negotiate othe timing will depend on the progress of staff member, in the next few days. but we should not be surprised if they get together, sthiem week. shannon. >> shannon: we wish them much luck. thank you. our worst-case scenario, there isn't a deal. the former economics director it'll peter tracy, tells what did you say to expect if that happens and what will happen if it doesn't. let's talk positive, first. who do you think, if something comes together, will be the key players. >> we need to see president obama move off the position of entitlements and propose real reductions, tangible, real, so there is something to balance with the rather substantial tax proposals. >> shannon: who do you think in
social security, set aside, doesn't add to the deficit. when it comes to medicare and medicaid, protect the integrity of the program, but give it solvency for more and more years. >> reporter: a source with engine of knowledge -- with knowledge of the negotiation says there is no date set in stone for the next meeting among the principle negotiate othe timing will depend on the progress of staff member, in the next few days. but we should not be surprised if they get together, sthiem...
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Nov 21, 2012
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deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment creates jobs that are disproportionately export-oriented, disproportionately manufacturing oriented, and are 50 percent more likely to be unionized. this is capital we should be fighting for. we need to approach trade in the second among the term with that same degree of confidence going to the point that michael made. i think the world is ready to engage. the german chancellor proposed a trans-atlantic free trade agreement. at degrees to pick up on that the bill fourth. the trans-pacific partnership negotiated out in asia. the chinese followed closely. let's just pr
deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment...
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are also going to have to step up here and do some tough things, and the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i could not disagree with more strongly. there are some commentators on the left that suggest that. >> cenk: it's threat to national security. look, i want to balance the budget, right, but it's not a threat to national security. if oh, my god what if the interest rates go up, but they're at record lows. this is just fear mongering. it's republican talking points. and then second of all you're setting up a straw man. nobody's saying don't balance the budget. the question is how how do you balance it? they always send out a straw man, oh, well, see that commentators on the left don't want to compromise. they do want to. the question is what's in the compromise. the if you notice, the most important thing he said there they're going to have to go after entitlement programs. >> i think what we need to do and the president believes let's go for the big deal, for a 10-20 year period for the first time i
are also going to have to step up here and do some tough things, and the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i could not disagree with more strongly. there are some commentators on the left that suggest that. >> cenk: it's threat to national security. look, i want to balance the budget, right, but it's not a threat to national security. if oh, my god what if the interest rates go up, but they're at...
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madam president, there are ways to do deficit reduction which are fair. everybody has got to understand we have cut approximately $1 trillion in benefits already. so when we talk about $4 trillion in deficit reduction, $1 trillion has already taken place. second of all, at a time when the wealthiest people are doing phenomenally well, when we have growing wealth and income in america, we have to repeal bush's tax breaks for people making $250,000 or more. that's another $1 trillion. we have got to appreciate the fact that one out of four corporations in america doesn't pay a nickel in taxes. we can bring in significant amounts of revenue through tax reform which asks corporations to start paying their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam presid
madam president, there are ways to do deficit reduction which are fair. everybody has got to understand we have cut approximately $1 trillion in benefits already. so when we talk about $4 trillion in deficit reduction, $1 trillion has already taken place. second of all, at a time when the wealthiest people are doing phenomenally well, when we have growing wealth and income in america, we have to repeal bush's tax breaks for people making $250,000 or more. that's another $1 trillion. we have got...
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Nov 24, 2012
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all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in particular making especially the highest income americans, you know, actually paying their fair share of taxes. that that's a priority and something that should be pursued in context of the fiscal cliff. the train is rolling and i think it's nice to see even some republicans now eventually realizing that taxes in particular tax fairness, does need to be a substantial part of this fiscal debate. >> but you just skated around my question, which is that if you're going to have real tax reform, almost every economist says the middle class is going to pay more, too. how are democrats going to handle that? >> i thi
all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in...